F&I and Showroom, February 2017

www fi magazine com 25 F I and Showroom February 2017 reported an income between 75000 and 110000 Fifty four percent earned more than 100000 per year and 19 earned more than 151000 Only 17 of those surveyed earned less than 75000 annually Finance directors on the other hand skewed heavily toward larger incomes Fifty eight percent of directors earned more than 151000 per year compared to only 19 for finance managers Ninety two percent earned more than 100000 and 79 earned at least 120000 annually Only 8 of directors surveyed earned less than 100000 3 WHATS YOUR PVR As expected due to the large salary discrepancy directors reported a higher profit per vehicle retailed PVR than of finance managers More than one third 375 of directors surveyed reported a per copy average of more than 1600 and 835 were higher than 1250 In comparison only 13 of finance managers reported a PVR of more than 1600 with 57 coming in between 950 and 1400 per deal Fewer than 1 were below 600 PVR When we examined PVR by region we found large discrepancies further validating the theory among F I professionals that it is difficult to compare your results with peers working in other parts of the country For example more than half 53 of those surveyed in the West North Central region had a PVR between 600 and 1100 There were no managers or directors in the Mountain region with less than 1100 PVR Thats quite the swing between areas Some regions such as East South Central showed a majority of finance managers all falling into the same bracket with 64 of finance managers averaging between 950 and 1100 Others like those working in the Mid Atlantic region had a very even number set across the board with no PVR bracket representing more than 28 of the total and the remaining brackets only accounting for 12 to 20 This was also evident in the Pacific region with all brackets falling between 12 and 25 The East North Central region had two strong categories with 44 of those surveyed averaging between 801 and 1100 and 34 averaging 1250 to 1400 4 HOW DO YOU FEEL When it came to long term job prospects finance directors were generally positive More than half 54 of directors surveyed felt the finance department will always be a focal point of the dealership Seventeen percent felt they are slowly being pushed out of the dealership and 29 were unsure Finance managers held a similar sentiment Fifty eight percent of managers felt that the finance department will always be a focal point of the dealership and 21 felt that they are slowly being pushed out of the dealership Twenty one percent were unsure We also found that finance managers who worked less hours indicated they were happier overall Using the same five star scale from the first question those working more than 50 hours per week reported an average job rating of 38 stars Those working fewer than 50 hours per week had an average job rating of 41 Interestingly although managers appear to be happier working fewer hours finance directors indicated the same levels of happiness regardless of hours worked Those working more ANNUAL INCOME DIRECTORS ANNUAL INCOME FINANCE MANAGERS

View the Covers and the Table of Contents pages from every issue of this publication, all gathered together for easy browsing. Just flip pages and zoom as you normally do to see each issue's Cover and Table of Contents, then follow links directly to interesting content.